News2020.01.16 16:29

Lithuania offered €97m from EU's Just Transition Fund for carbon neutrality

BNS 2020.01.16 16:29

The European Commission is offering 97 million euros to Lithuania to help it transition toward a climate-neutral economy, sources have confirmed to BNS.

The money should be allocated to Lithuania under the so-called Just Transition Fund proposal unveiled in Brussels this week.

All EU member countries except Poland have committed to achieving climate-neutral economy by 2050, which will require drastically reducing carbon emissions.

The Commission says the fund will help mitigate the socio-economic impact of the transition, especially for regions that rely on fossil fuels.

Lithuanian government officials say transport and agriculture are the sectors that will face the biggest challenges during the country's transition to climate neutrality.

Measures to achieve these goals include increasing the share of renewable energy sources in the overall energy mix, increasing efficiency of energy use, switching to environmentally-friendly cars and expanding forest areas.

Poland, whose economy relies heavily on coal, is likely to get the largest slice of the Just Transition Fund, with 2 billion euros proposed for the country.

According to Euractiv.com, the other “big winners” are Germany (877 million euros), Romania (757 million euros) and the Czech Republic (581 million euros). Luxembourg will be eligible for the smallest amount of 4 million euros.

“But member states will not be automatically awarded those sums as money will be allocated based on regional transition plans, which will have to spell out exactly how funding will be spent,” the website said.

LRT has been certified according to the Journalism Trust Initiative Programme

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